Home / Knowledge / News / Textiles / PX market expected to see further decline

PX market expected to see further decline

25
May '10
As international price of crude oil fell below US $70 / barrel mark, international PX market declined $10-30 / ton. External market downturn has brought greater psychological stress to traders.

Most people are still more pessimistic about market outlook, while the weakness of downstream market acts as an even more painful blow on PX market. On the weekend, PX price in Asia fell to $934 / ton (FOB Korea).

The market is expected to see further decline, but the pace of the drop will slow down. PX prices of May cargo were at $993-997 / ton (FOB Rotterdam) and about $960-965 / ton (FOB US Gulf).

PX price of June cargo was $928-938/ ton (FOB South Korea), the spread between Europe and Asia was $62 / ton, the spread between the US and Asia was $30 / ton. Therefore, in theory, arbitrage windows for PX cargo between Europe and Asia and Europe and US are still closed.

Isomer grade Xylene (MX) is priced at $846 / ton (CFR China) in Asian market. PX price is at $959/ ton (CFR China). The spread between MX and PX is $113 / ton. The PX-MX spread shows that PX production based on MX as raw material too suffers losses.

Fibre2fashion News Desk


Must ReadView All

Pic: Shutterstock

Textiles | On 8th May 2021

French Development Agency to invest $83m in Ivory Coast cotton sector

Over a period of five years, the French Development Agency (AFD) will ...

Pic: Juki

Apparel/Garments | On 8th May 2021

Japanese companies collaborate to develop sewing machine business

Juki Corporation and Pegasus Sewing Machine Mfg have entered into a...

Pic: Rocky Brands

Apparel/Garments | On 8th May 2021

Rocky Brands expands Made in America capabilities

Rocky Brands has expanded the offering of its Made in America product ...

Interviews View All

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search